Eight Innovative Startups Showcase Cutting-Edge Financial
Technologies at Sixth Annual FinTech Innovation Lab Demo Day in New York
City

NEW YORK--(BUSINESS WIRE)--A select group of leading-edge financial services technology (fintech)
companies demonstrated their products and services to dozens of top
bank, venture capital and technology executives today at the sixth
annual New
York FinTech Innovation Lab Demo Day.

Created by Accenture (NYSE:ACN) and the Partnership Fund for New York
City in 2010, the FinTech Innovation Lab is a 12-week mentoring program
to enhance fintech innovation and drive high-tech job growth in New York
City by connecting startups with decision makers at some of the world’s
leading financial institutions. This year’s Demo Day was held at Bank of
America’s One Bryant Park in Manhattan.

The eight companies in this year’s lab were selected by senior
technology executives from 16 participating financial institutions and
have spent the last 12 weeks receiving intensive mentoring, product and
business-development advice, and exposure to senior financial industry,
technology and venture capital executives. The 2016 FinTech Innovation
Lab participants are:

51maps – provides a secure platform that allows companies to
integrate all of the applications used by employees into one central,
secure dashboard that can be accessed on any device. This enables a
seamless, intuitive user experience with enhanced security and
navigation, increasing employee efficiency as well as the overall
customer experience.

AlphaPoint – provides blockchain-enabled solutions to issue,
track, and trade digital assets. Its secure, scalable, and
customizable platform enables customers to deploy blockchain
technology today to reduce operational costs and generate revenue from
new products and services. AlphaPoint has 3 live blockchain
applications, with over 20 customers, and over $500 Million transacted
on the platform.

Cambridge Blockchain – an identity management platform for
multinational banks that puts control of personal identity data back
in the hands of the end user. This blockchain-enabled approach meets
the strictest new data privacy rules, eliminates redundant
know-your-customer compliance steps and improves the user experience.

T-REX – a platform that provides tools for sophisticated risk
analysis and valuation of assets to make the finance process more
efficient and transparent, shortening the transaction time from up to
six months to less than one week. The platform initially focuses on
renewable energy assets, such as solar, and plans to expand into
additional asset classes.

untapt – a data-driven hiring platform that uses machine
intelligence to better match quality technologists with hiring
managers. This allows companies to fill their growing need for
engineering talent, solving a critical industry pain point. untapt can
be used to bring new talent into a company, or can be used within an
organization as an internal mobility tool.

The New York FinTech Innovation Lab’s 31 alumni companies have raised a
total of $296 million in financing after participating in the program,
and four have been acquired, two in 2015 alone, including Standard
Treasury and BillGuard. Financial services firms supporting the Lab are:
Ally Financial; American Express; American International Group, Inc.;
Bank of America; Barclays; BlackRock; Capital One; Citi; Credit Suisse;
Deutsche Bank; Goldman Sachs; The Guardian Life Insurance Company of
America; JPMorgan Chase & Co; Morgan Stanley; New York Life; and Wells
Fargo. Supporting venture-capital firms include Bain Capital Ventures,
Canaan Partners, Contour Venture Partners, Nyca Partners, Rho Ventures,
RRE Ventures and Warburg Pincus.

“The FinTech Innovation Lab continues to be the premier program enabling
the next generation of successful financial technology entrepreneurs to
grow right here in New York,” said Maria Gotsch, President and CEO of
the Partnership
Fund for New York City. “In just six years, the Lab has grown from
ten financial services partners to 29, which is proof that the city’s
financial institutions understand that their growth depends on their
ability to harness innovation. The Lab has created a strong,
well-connected fintech sector in New York City, which has led to a
significant number of jobs being created and an impressive amount of
financing raised. This year’s participants are another clear example of
the incredible innovation taking place in the five boroughs.”

“An unprecedented amount of money has been poured into financial
technology start-ups in recent years, much more than anyone has
predicted,” said Bob
Gach, managing director, Accenture Strategy, Capital
Markets and co-founder of the FinTech Innovation Lab. “With banks
continuing to face pressure to find new revenue streams and fend off
competitors while reorienting their business model around digital, they
increasingly recognize the collaborative role fintech can play to help
drive their own evolution. This year’s class is opening the door to new
uses for disruptive technologies like blockchain and robo-advice, which
will help banks develop their innovation roadmaps.”

“AIG has found both the NYC FinTech members and startups to be truly
thoughtful innovators, and we enjoy participating in this important
program,” says Philip Fasano, Executive Vice President & Chief
Information Officer, AIG.

“Ally is pleased to support the FinTech Innovation Lab and play an
active role in mentoring these young companies,” said Ally Financial
Chief Information Officer Michael Baresich. “As a relentless ally for
our customers, we want to ensure technological innovation moves quickly
from the laboratory into our leading products and services.”

“Every year we come away energized and more informed from our
relationship with the New York FinTech Innovation Lab and the
participating companies,” said David Reilly, Bank of America Chief
Technology Officer. “As technology becomes more and more critical to the
financial services business, our participation helps keep us close to
the cutting edge – which ultimately benefits how we service and interact
with our customers and clients.”

"BlackRock is focused on partnering with fintech firms that share our
vision of delivering fiduciary client outcomes through and with
technology innovation. The development and delivery of Aladdin over the
last two decades evidences our technology DNA. We are proud to support
the FinTech Innovation Lab in the important work of mentoring startups,
many of whom are addressing the most interesting challenges in the
fintech world,” said Scott Condron, Managing Director, BlackRock.

“The FinTech Innovation Lab gives New York tech startups a unique
opportunity to build connections, accelerate growth, and learn alongside
a team of experienced mentors and partners,” said Jaidev Shergill,
managing partner at Capital One Growth Ventures. “The same commitment to
collaboration and experimentation that drives innovation at Capital One
is also helping this group of leading-edge startups take their big ideas
and breakthrough technologies to the next level. We are excited to be
part of this incredible network of entrepreneurs, financial
institutions, and venture capitalists.”

“Citi is proud to participate in the New York FinTech Innovation Lab to
drive innovation for our customers and clients,” said Motti Finkelstein,
CTO-Americas and Global Strategy Planning-Managing Director. “FinTech is
changing the way traditional financial services are delivered, and we
are proud to be a part of this initiative to help develop
state-of-the-art leading capabilities and opportunities.”

“We need new and innovative ways to deal with the plethora and pace of
change in our industry,” said Steve Hook, Global Markets CIO at Credit
Suisse. "As founding sponsors of the Fintech Innovation Lab, Credit
Suisse mentors startups that bring new and fresh perspectives to help
make us more efficient and deliver more for our clients. This year, we
saw another standout set of applicants which reaffirmed the value that
this program delivers to the Financial Services sector in NYC."

“JPMorgan Chase is excited to once again serve as a mentor to startups
in the Fintech Innovation Lab,” said Larry Feinsmith, Managing Director,
Global Technology Strategy & Partnerships, JPMorgan Chase & Co. “The
innovation ecosystem built by larger financial services companies like
ours and fintech startups working together is invaluable – it creates
opportunities for all parties involved.”

Shawn Melamed, Head of Technology Business Development at Morgan
Stanley, said: “The financial services industry is driven by technology,
and we recognize the crucial role forums like the FinTech Innovation Lab
play in connecting us with emerging technologies that can help us better
serve our clients. While the entrepreneurs benefit from exposure and
mentoring by our senior leadership, we also come away with both insights
and inspiration to use technology in fresh and inventive ways.”

Ravi Radhakrishnan, CIO for Wholesale Banking Technology at Wells Fargo,
added: “This mentorship program gives Wells Fargo one more way to engage
with New York FinTech startups. We help them understand our specific
business needs in their focus area and they help us explore new ways of
meeting those needs.”

Based on the success of the FinTech Innovation Lab in New York,
Accenture launched the FinTech Innovation Lab London in 2012 and the
FinTech Innovation Lab Asia-Pacific in Hong Kong in 2014.

About the Partnership Fund for New York City

The Partnership Fund for New York City is the $115 million investment
arm of the Partnership for New York City, New York’s leading business
organization. The Fund’s mission is to engage the City’s business
leaders to identify and support promising NYC-based entrepreneurs in
both the for-profit and non-profit sectors to create jobs, spur new
business and expand opportunities for New Yorkers to participate in the
City’s economy. The Fund is governed by a Board of Directors co-chaired
by Charles “Chip” Kaye, co-chief executive officer of Warburg Pincus,
and Tarek Sherif, Chairman and CEO of Medidata. Maria Gotsch serves as
President and CEO of the Fund. More information about the Fund can be
found at www.pfnyc.org.

About Accenture

Accenture is a leading global professional services company, providing a
broad range of services and solutions in strategy, consulting, digital,
technology and operations. Combining unmatched experience and
specialized skills across more than 40 industries and all business
functions – underpinned by the world’s largest delivery network –
Accenture works at the intersection of business and technology to help
clients improve their performance and create sustainable value for their
stakeholders. With approximately 373,000 people serving clients in more
than 120 countries, Accenture drives innovation to improve the way the
world works and lives. Visit us at www.accenture.com.